Edinburgh's Popularity Soars Post-Election
CKD Galbraith has reported a strong bounce back after the traditionally quieter period leading up to the general election. In the fortnight following the election the firm’s Edinburgh office has experienced a flurry of interest and property viewings from local, national and international buyers.
The property sector is familiar with the natural peaks and troughs in activity in the run up to events such as elections, referendums and during holiday periods such as Christmas and Easter. However, CKD Galbraith has noted a real surge in buyer activity post-election; with many sales resulting in competitive bidding and closing dates.
Lorna Donaldson, from CKD Galbraith’s Edinburgh office, said:
"The Edinburgh property market has made an extremely strong and promising start to 2015 and shows no signs of slowing down, despite any uncertainty surrounding the general election."
"During the first three months of 2015 the Edinburgh residential team sold over 40% of their city centre offerings to cash buyers, with just under half of all city sales going to closing date, and with properties achieving up to 14% over the home report valuation."
"Edinburgh city centre clearly continues to attract demand from buyers who are ready and able to act fast and pay a premium for the right property in their preferred location."
Interest comes from not only across the Edinburgh and Lothian regions but from the rest of Scotland as well as south of the border and abroad, with sales across the firm to both national (42%) and international (8%) buyers.
Last week CKD Galbraith’s Edinburgh office brought an impressive Victorian lower villa in a prime central location to the market. 6A Ravelston Park is a generously proportioned main door Victorian lower villa located in a prestigious residential district just west of Edinburgh’s city centre. Comprising the ground floor of this substantial detached villa, set privately within its own landscaped garden grounds, the property offers four bedrooms, a spacious sitting room, dining room, kitchen and conservatory.
The property offers an ideal opportunity for anyone looking to downsize to a more manageable space on one level. It is also in a great location for families looking for a base within walking distance of a number of well-regarded schools.
6A Ravelston Park is currently on the market for offers over £675,000, and has attracted considerable early interest locally as well as from buyers from the south, looking for ways to make their budget stretch further for their perfect home.
Another property that has attracted international interest is Craigiehall Temple, currently being marketed at offers over £835,000. This unusual family home in a convenient and private situation on the outskirts of Edinburgh has six bedrooms and three reception rooms, carefully designed to take advantage of the surrounding countryside views, and offers the added benefit of a fully restored A Listed 18th Century round stone tower.
Lorna added: "Interested parties should view these properties sooner rather than later. The bounce back following the election is strong and we expect the market to continue to be strong for properties in prime city centre locations, buoyed up by a continuation of market confidence and influx of interest from buyers outwith Edinburgh and indeed Scotland."